Insights
Minnesota
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VACANCY
Apartment
The average Vacancy Rate was 8.1% in the Minneapolis metro
- Vacancy in the Minneapolis metro drifted upward by 30 basis points.
- The Minneapolis metro had the highest vacancy level since year-end 1993.
Distribution / Warehousing
The average Vacancy Rate was 5.1% in the Minneapolis metro
Flex / R&D
The average Vacancy Rate was 6.3% in the Minneapolis metro
Office
The average Vacancy Rate was 22.7% in the Minneapolis metro
- Vacancy in the Minneapolis metro increased by 70 basis points.
- The Minneapolis metro had the highest vacancy level since year-end 1993.
Retail
The average Vacancy Rate was 11.0% in the Minneapolis metro
RENT
Apartment
The average Asking Rent was $1,486 in the Minneapolis metro
Distribution / Warehousing
The average Asking Rent was $7.33 in the Minneapolis metro
- Rent in the Minneapolis metro was up 0.7% from Q3 2023.
- Rent has risen in every quarter since Q2 2020 in the Minneapolis metro.
Flex / R&D
The average Asking Rent was $9.73 in the Minneapolis metro
- Rent in the Minneapolis metro was up 0.5% from Q3 2023.
- Rent has risen in every quarter since Q2 2020 in the Minneapolis metro.
Office
The average Asking Rent was $26.98 in the Minneapolis metro
- Rent in the Minneapolis metro was up 0.3% from Q3 2023.
- Rent Has risen for nine consecutive quarters in the Minneapolis metro.